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Tuesday, November 10 - 2009

NBK opens in China

National Bank of Kuwait (NBK) the largest Kuwaiti bank and the highest rated in the Middle East has announced its entry to the Chinese market through a representative office in Shanghai- one of the most important and powerful trade centers in the world of business.

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Ibrahim S. Dabdoub, NBK's Chief Executive Officer, said: "NBK is particularly proud to be the first Arab bank to open in China. The decision was made to open a representative office in Shanghai based on the great economical and commercial developments China is witnessing, and is planning to have with different parts of the world, particularly the Arab world."

Dabdoub added: "Many experts and analysts consider China to be the great dominant power of the future. We at NBK, would certainly want to become involved into this promising market, and at the same time would like to serve our customers who own business interests in China by offering them our best banking solutions and consulting services to assist them in overcoming any financial obstacles they may encounter."

"Our new entry to China is one of the many goals and aspirations that NBK has been planning for in its ambitious strategy of expansion to the entire globe. We are happy of our recent achievements and will surely keep on exploring new openings in the future," he concluded.

NBK currently has the largest regional and international network of branches, representative offices and subsidiaries located in London, Geneva, Paris, New York, Singapore, Vietnam, Lebanon, Bahrain, Qatar, KSA, Jordan and Iraq.
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Notes and media contacts

NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf Region. It is by far the largest financial institution in Kuwait with effective market dominance in the commercial banking market. NBK stands out in Kuwait and among Arab banks in terms of its local and international network, which includes branches, subsidiaries and representative offices in London, New York, Paris, Geneva, Qatar, Bahrain, Lebanon, Amman, and Singapore, with other ambitious plans for regional expansion in KSA, Iraq and China. NBK reported profits of USD 515 million during 2004, among the highest in the Arab world.

NBK's Long-Term Rating:
• Moody's A2
• Fitch Ratings A+
• Standard & Poor's A
• Capital Intelligence A+

For more information please contact:

Hisham Atra /Tim Harrison
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4-3355969,
Fax: 971-4-3344556,

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